TDRI Research Director
Kirida Bhaopichitr PhD is research director for the International Research & Advisory Service, Thailand Development Research Institute (TDRI). Policy analyses from the TDRI appear in the 'Bangkok Post' on alternate Wednesdays.
The Thai economy will continue to recover from last year, but is yet to reach its pre-Covid level. In 2022, economic growth is expected to be 3.0-3.5%, against 0.8% last year and -6.1% in 2020. This growth rate, however, still does not put the Thai economy back to its value in 2019. The value of the Thai economy or its gross domestic product (GDP) is forecast to reach its 2019 level in 2023.
The Thai economy will grow next year after contracting by almost 10% this year. Next year, the Thai economy is expected to expand 3 to 4% from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However, if there is another wave of Covid-19 in Thailand, or if effective vaccines are delayed, the recovery could be slower than anticipated.